Latest Business News

Kenya's Great Rift Valley, a 450-mile-long volcanic trench ripped open by shifting tectonic plates, is known as the cradle of mankind for the million-year-old remains of human forebears discovered there. Oil drillers say the area also holds a string of fields that could make East Africa's largest economy a major energy producer. The U.K.'s Tullow Oil (TLW:LN) and Canada's Africa Oil found crude at two wells last year and now plan up to 11 more test wells in 2013. The valley could.... Read more »

Kenya’s run of geologic luck continues, following the announcement of the country’s fourth consecutive discovery of oil by the UK’s Tullow Oil and Canada’s Africa Oil. Similarly, while activity in the natural gas sector is proceeding at a slower pace, following the recent departure of one explorer, the outlook for new finds is promising.
New wells
Tullow and Africa Oil, which are joint partners in the exploration of the East Africa Rift Basin, announced.... Read more »

Africa has a huge untapped potential for generating clean energy, including enough hydroelectric power from its seven major river systems to serve the entire continent’s needs, as well as enormous potential for other energy sources such as solar, wind and geothermal.
Africa is ideal for alternative energy projects, as many of the countries receive 325 days of sunlight on average. This makes solar power a high potential for alternative energy without high cost power.... Read more »

Solar equipment vendors have seen an upturn in business as property developers move to comply with a new law meant to cut electricity costs. The Energy (Solar Water Heating) Regulations 2012 require builders of residential and commercial houses to include solar water heating systems in their designs. The regulations affect units whose hot water needs exceed 100 litres per day and also require existing premises with no solar heaters to have them retrofitted by 2017.
“Our sales.... Read more »

President Uhuru Kenyatta commissioned construction works of the crucial road that traverses across the vast county and which has been ignored since independence.
Local leaders lauded President Kenyatta saying the tarmacking of the road will not only spur growth in the county but ease transportation of people and goods between Kenya and Tanzania in the spirit of the East African Cooperation.
The 110 km road links Tanzania and Kenya through the Taveta-Voi road. The road is.... Read more »

Construction of a railway line to connect Mtwara Port in Mtwara Region and Mbamba Bay in Ruvuma Region to ease haulage of heavy cargo along the Mtwara Corridor in southern Tanzania is in the offing, President Jakaya Kikwete has announced.
Addressing a mammoth crowd at a public rally, the president said the government has found it ideal to construct the railway network to unlock the corridor to the rest of the country and the world.
“In our plans, there will come a time.... Read more »

Nairobi - Chinese automaker Beiqi Foton on Saturday launched its van for the Africa market.
Foton's general manager Wang Jinyu told journalist in Nairobi that Kenya is an emerging market for commercial vehicles on the continent.
"We hope to provide transport solutions for growing urban centers in Kenya and the entire Africa region," he said, adding that Chinese firms are impressed by the favorable investment climate in Kenya.
Foton East Africa General Manager Calvin.... Read more »

Ford has aggressive plans to expand its business in Africa and will be launching 25 new vehicles into the Middle East and Africa region by 2016, with 17 of these models launched into sub-Saharan Africa.
Jim Benintende, the president of Ford Middle East and Africa (MEA), said yesterday Ford had launched earlier this year its fifth business unit, MEA, comprising 67 markets that represented “the final frontier for growth within the global automotive.... Read more »

The company also runs an office in Ethiopia and plans to launch in Tanzania. Epson’s East Africa regional manager Mukesh Bector says the region is a “key focus market” thanks to recent economic growth.
Bector tells How we made it in Africa that the establishment of more small and medium enterprises (SMEs) and government agencies as well as growth in the photography industry, are impacting printer and other office equipment sales in the region.
“People need.... Read more »

Plastic usage worldwide has been on the increase in the last three decades as this is the most convenient of packing, storing and transporting many products the world.
In our country Kenya, most products are packed in plastic vessels. Regrettably, this has led to environment pollution and degradation due to the way these plastics are disposed off after usage. A casual look around the country reveals lots of poorly disposed plastic bags and bottles. With the above in mind, a group.... Read more »

The printing industry has changed, with many established printer providers, as well as new companies, adopting digital printing solutions to meet the demands of the print market, says Leon Minnie, product manager: production systems at Konica Minolta South Africa. The purchase of a digital device is not always done willingly, sometimes it is done through necessity and sometimes the technology is embraced as companies look to the future.
For those printer providers working in a.... Read more »

Mumbai-based drugmaker Cipla Ltd is acquiring 51 per cent stake in a UAE-based pharmaceutical company which has manufacturing and distribution business in Yemen for $21 million.
“Given the recent preference to local manufacturing, this secures the company’s presence in a fast growing market,” the company said in a stock exchange announcement.
At present Cipla has over 200 products in Yemen market. The company will pay $21 million for this transaction with.... Read more »

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